Reliance Power shares soared as the company, led by Anil Ambani, settled its outstanding dues with banks. The stock hit a 5% upper circuit as investors reacted positively to the news. This development marks a significant step for the firm, which has been navigating financial challenges.
The resolution of bank dues indicates a positive turn in Reliance Power's financial health, potentially boosting investor confidence. The settlement underscores efforts to address financial obligations and stabilize operations, potentially signaling a path toward renewed growth and stability for the company.